All Forum Posts by: Carissa Meek

Hi all

I am looking at a foreclosure that was listed two days ago. I have two questions that I would appreciate your feedback on...

1. They’re asking way too much for the property. How much of a discount could one expect to get from a foreclosed property? For example, it’s listed at 111 k but my offer would be 71 k. I know, way off. Is there a minimum percentage that the lender will accept or is it variant based on every lender?

2. I’ve read that foreclosure require all cash at close? Is this always the case? I would be using hard money and all cash is not even close to being a possibility for me.

Thanks in advance

Hello everyone!

I am new to this, and the extent of my experience is minimal. I have done a ton of research in the last month or so, but I am now moving forward in search of a property to fix and flip. I know the key to making money will be finding a great deal and also finding a contractor that is familiar with working with investors and providing service that is below market price. I’m located in Lynchburg, Virginia and was wondering if anyone here knows of one or some trustworthy general contractors that work with investors. I am not interested in finding sub contractors as this is my first flip and I am unfamiliar with the rehabbing process and order of work needed. I would also appreciate hearing your technique of finding the contractors that you work with! Going to Home Depot early in the morning to scout out people purchasing material is difficult for me as I have two very small children at home. Thank you for your help.